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Intelligencer, Wheeling, W. Va., March 13, 1928 
A SILLY QUIBBLE 
“After several weeks of profound meditation, the United States 
Treasury has solemnly decided that five million dollars worth of 
gold, sent to a New York bank by the Soviet government to pay 
for American goods, cannot be accepted. It will have to be sent to 
England, converted into sterling credit, and these bills of exchange 
used for payment of our goods. 
“This is one of the silliest quibbles, and most inconsistent actions 
taken by the present Administration, which has usually handled mat- 
‘ers of this sort with good sense. Good sense is shown in refusing 
to recognize Russia, until that nation guarantees to accept the com- 
mon obligations of international dealing and responsibility. It is 
equally good sense to place no special barriers against private trade 
with Russia. Last year twenty-three per cent of Russia’s imports 
ame from the United States. She bought more from us than from 
any other nation except Germany. The goods was mainly machinery 
needed to rehabilitate the industrial fabric of Russia and modernize 
her agriculture, and was paid for promptly. 
“If it is wrong, therefore, for our banks to accept Russia's gold 
directly, it must be equally wrong for them to accept bills of ex- 
*hange purchased with the same gold abroad. If it is not morally 
right to let Soviet money come into this country, then it is not 
morally right to let our oil companies bring profits here which were 
secured in trading in oil from Russian concessions. So long as we 
are trading with Russia, as private individuals and pocketing the 
profits, what difference can it make if payment is made in Russian 
gold sent here directly or sent indirectly in the form of British ster- 
ling notes purchased with the same gold. The Treasury’s decision 
has the savor of a a pious pose that does not coincide with the facts 
of the case.” 
Meriden, Conn., Record, March 15, 1928 
GOLD A-BEGGING 
‘A unique situation was created by the shipment of gold from 
Russia to this country, solid yellow gold bars, $5,000,000 worth of 
them, that are worse than valueless, that are a dead loss of $700 
1 day. Ordinarily the arrival of $5,000,000 in gold in New York 
ity would not cause even a comment; it would have been received 
ind absorbed without creating so much as a ripple—ordinarily.